Wednesday, March 22, 2023 9:53:53 PM
https://www.pymnts.com/cryptocurrency/2023/coinbase-becomes-second-crypto-firm-to-receive-sec-wells-notice/
"...Popular U.S.-based crypto exchange Coinbase may soon find itself in hot water with federal regulators.
The company’s CEO, Brian Armstrong, announced on Twitter Wednesday (March 22) that the exchange has received a Wells notice from the U.S. Securities and Exchange Commission (SEC) tied to Coinbase’s listing of potential unregistered securities across its suite of digital asset products and services.
“Based on discussions with the Staff, the Company believes these potential enforcement actions would relate to aspects of the Company’s spot market, staking service Coinbase Earn, Coinbase Prime and Coinbase Wallet,” Coinbase said in a statement.
Wells notices are not formal charges or lawsuits, but can often lead to them.
Most recently, at least for the digital asset sector, Paxos, a New York-regulated blockchain infrastructure and financial services platform, was issued one.
Paxos sunset its Binance-branded stablecoin product in response to the SEC notice.
Just as the Paxos Wells notice led to the retirement of its BUSD stablecoin, the SEC pressure on Coinbase has reportedly already killed the company’s staking reward product for at least one crypto token, Algorand.
“I woke up this morning to find Coinbase killed rewards … they are evaluating their services in light of recent regulatory scrutiny, and, for that reason, they will no longer support Algo rewards for Retail customers,” tweeted the Algorand CEO.
Coinbase users can still earn staking rewards from the Ethereum, Cosmos, Tezos, Cardano and Solana blockchain, per the Coinbase site..."
Recent SHIBUSD News
- XRP, Dogecoin, & Shiba Inu All See Negative Sentiment: Signal To Buy? • NEWSBTC • 06/18/2024 05:00:29 PM
- Bitcoin Slumps To $64K Lows; Shiba Inu, Dogecoin, Cardano, Solana Lead Losses In Altcoins • ZyCrypto • 06/18/2024 11:32:10 AM
- Trump token whale sells for $3.7M profit as memecoin starts decline • Cointelegraph • 06/18/2024 09:48:20 AM
- End Of The Road For FLOKI? Analyst Predicts 80% Crash For The Shiba Inu Competitor • NEWSBTC • 06/18/2024 06:30:15 AM
- ‘No clear catalyst’ as altcoin bloodbath sees top coins dip double digits • Cointelegraph • 06/18/2024 05:12:56 AM
- Shiba Inu’s Shibarium Sees Triple-Digit Surge Across Major Metrics, What’s Going On? • NEWSBTC • 06/17/2024 07:30:10 PM
- Tether CEO Spotlights Bitcoin’s Uniqueness While Citing Bearish View on Shiba Inu, PEPE, WIF, FLOKI • ZyCrypto • 06/17/2024 05:33:40 PM
- BlockDAG’s Keynote 2 Captivates Influencers & Forecasts 30,000x ROI; ADA and SHIB Price Movements Explored • ZyCrypto • 06/16/2024 06:55:53 AM
- WIF Price Crashes 15% – Will The Freefall Continue? • NEWSBTC • 06/15/2024 09:10:29 AM
- WienerAI Sees SHIB Holders Transferring Capital Into The Dog-Based AI Crypto Gem • ZyCrypto • 06/14/2024 08:20:12 PM
- Will $0.001 Shiba Inu Price Be Here Any Moment Now? Massive SHIB Move By Whales Signals Market Upturn • ZyCrypto • 06/14/2024 07:12:43 PM
- SHIB Marketing Lead Hints at Unreleased Token, Shares Update on Upcoming Shiba Eternity Blockchain Game • The Daily Hodl • 06/14/2024 06:41:34 PM
- DOGE To The Moon: This Dogecoin Metric Just Turned Bullish For The First Time Since 2020 • NEWSBTC • 06/14/2024 12:05:50 AM
- Analyst Predicts 35% Jump For Bitcoin In Next Step Of ‘Magic Bands’ • NEWSBTC • 06/13/2024 09:00:50 PM
- Dogecoin Under Pressure And ‘Going To Zero’, Analyst Says – Here’s Why • NEWSBTC • 06/13/2024 12:30:53 PM
- Bitcoin Ownership Trends: Short-Term Spike As ETFs Gain Popularity – Report • NEWSBTC • 06/13/2024 09:45:22 AM
- Ethereum Longs Crushed! Who Got Burned In The $62 Million Fire Sale? • NEWSBTC • 06/13/2024 07:44:55 AM
- Optimism Activates Fault-Proofs On Mainnet, OP Is Down 55% In 3 Months • NEWSBTC • 06/12/2024 09:00:46 PM
- Raboo’s Presale is Selling Out Fast as SHIB and STRUMP Price Plummet • ZyCrypto • 06/12/2024 08:03:43 PM
- Historical Trends Suggest Shiba Inu Price Will Rally 1,000% To $0.00024, Analyst Reveals When • NEWSBTC • 06/12/2024 08:00:58 PM
- Bitcoin, Ether, SOL, Cardano, XRP, Shiba Inu Braced For $500 Billion Bull Earthquake As US Inflation Cools • ZyCrypto • 06/12/2024 06:34:38 PM
- Shiba Inu Loses 14% In Last 7 Days – Will The Misery Worsen? • NEWSBTC • 06/12/2024 10:43:38 AM
- Shiba Inu (SHIB) Burn Rate Skyrockets Nearly 70,000%: Will This Trigger A Long-Awaited Price Explosion? • NEWSBTC • 06/11/2024 03:00:14 AM
- Last Chance: Market Expert Reveals Why Now Is The Perfect Time To Invest In These 5 Altcoins • NEWSBTC • 06/10/2024 09:00:22 PM
- Hedge Funds Heavily Betting For Bitcoin To Fall: Will This Strategy Fail? • NEWSBTC • 06/10/2024 05:30:33 PM
North Bay Resources Announces Composite Assays of 0.53 and 0.44 Troy Ounces per Ton Gold in Trenches B + C at Fran Gold, British Columbia • NBRI • Jun 18, 2024 9:18 AM
VAYK Assembling New Management Team for $64 Billion Domestic Market • VAYK • Jun 18, 2024 9:00 AM
Fifty 1 Labs, Inc Announces Acquisition of Drago Knives, LLC • CAFI • Jun 18, 2024 8:45 AM
Hydromer Announces Attainment of ISO 13485 Certification • HYDI • Jun 17, 2024 9:22 AM
ECGI Holdings Announces LOI to Acquire Pacific Saddlery to Capitalize on $12.72 Billion Market Potential • ECGI • Jun 13, 2024 9:50 AM
Fifty 1 Labs, Inc. Announces Major Strategic Advancements and Shareholder Updates • CAFI • Jun 13, 2024 8:45 AM